But investors were hopeful enough about the F.D.A. news to send the company's shares up 68 percent to close at $3.57 today. Shares of Digital Angel, a subsidiary of Applied Digital, that makes animal tags and manufactures the VeriChip, rose nearly 29 percent to $3.49.

Q : "about the F.D.A. news" modifies "hopeful", doesn't it?

(The F.D.A. news refers to a permission of selling a sub-deramal chip.)